Sign on to save the Wisconsin Retirement System

Among the many awful provisions contained in Wisconsin Act 10, Republican Gov. Scott Walker’s so-called “budget repair” bill, is a passage mandating a “study” of the Wisconsin Retirement System (WRS) to “specifically address establishing a defined contribution plan as an option for WRS participating employees[.]” As noted by blogger Kristen Emery, that provision could pave the way for a raid of the WRS by Gov. Walker’s administration.

In response to what could end up being an attempt by Gov. Walker’s administration to raid the approximately $80 billion currently held in the Wisconsin Retirement System, Kathleen March has set up an online petition folks can sign urging Gov. Walker not to turn the billions of dollars in the Wisconsin Retirement System over to investment houses, which would result in recipients losing the safety and security of one of the best-run and most well-funded retirement funds in the nation.

7 thoughts on “Sign on to save the Wisconsin Retirement System”

How can Walker even think he has the right to touch our retirement funds? If he raids it what are we suppose to live on once my husband retires? We weren’t told years ago we better have an alternative retirement fund because this money might not be there years from now. My husband has a contract with his job…Walker can’t just breach it.

As a state employee I am afraid of Scott Walker’s legal or illegal abilities to affect our retirement account. His actions are highly suspicious because he has shown that he wants whatever money he can get his hands on to further his own agenda. He cares nothing for the state of Wisconsin or it’s people. Once he takes our money it will be gone and no legal action will ever restore it.

Read Retirement Heist: How companies plunder and profit from the nest eggs of American workers. By Ellen Schultz
Changing accounts from defined benefits to defined contribution is always the first step in robbing worker retirement funds.